Company name

Calox de Costa Rica S.A. (“Calox” or the “Company”)

Project number

13326-01

Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.

E&S category
tooltip

B

Country

Costa Rica

Sector

Manufacturing

Status

In implementation

Disclosed date

04/05/2021

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
tooltip

06/07/2021

Approval date

06/07/2021

Signed date

06/11/2021

Sponsoring entity

Finalease

Team leader

Alvarado Blando, Gloriana

Investment type

Financing requested

USD $ 14,000,000

Syndicated amount

N/A

Financing amount

USD $ 14,000,000

Currency

USD

Project scope and objective

This transaction consists of a long-term corporate loan of up to US$14 million to Calox de Costa Rica S.A. ("CALOX" or the "Company"). CALOX is a company that has operated for more than 25 years in Central America and the Caribbean, dedicated to the production, distribution, and sale of mainly generic pharmaceutical products.

The proposed financing includes two main objectives: the first consists of the acquisition of the current plant to make improvements in infrastructure and energy efficiency, which will allow it to become certified and expand its production capacity in the medium term; the second objective consists of providing medium-term financing for permanent working capital, to enhance: (i) the expansion of medicines under its own brand ("Xaikus"); (ii) the expansion into the South American market; and (iii) continuing research and development of new products, as well as strengthening its presence in the Central American market with drugs attending to the health crisis caused by the COVID-19 pandemic.

For inquiries, comments and information requests about the project

Request information

Learn more about how we provide private-sector solutions in the region.

Environmental and social review

IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. Any gaps with respect to the IDB Invest Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) provided below.

CALOX - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

655.4 Kb

CALOX - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)

747.5 Kb

For inquiries, comments and information requests about the project

Request information

Learn more about how we provide private-sector solutions in the region.

Contact information

For inquiries, comments and information requests about the project

Request information

Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Andrés Finol Wardrop

POSITION

Chief Executive Officer

PHONE NUMBER

+506-2248-0506

EMAIL

afinol@calox.com

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices